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The versatile banker rich in humane values

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When I read the article ‘Dismal behaviour of people’s representatives’ on 7th July in this newspaper by veteran banker Rienzie T. Wijetilleke (RTW), former Managing Director and Chairman of Hatton National Bank PLC, I noticed he had mentioned that he was in his 80s. That prompted me to pen this article as his next birthday approaches.

A leader is the one who knows how the way goes, and shows the way. Such a man’s name is ever embedded in many hearts. To the world he may be one human being but for many he is the world.

Quite deservingly many articles about him have been written by erudite veterans such as, Dr Upul Wijayawardhana, W. A.Wijewardane, former Deputy Governor of Central Bank in ‘My View’ and Savithri Rodrigo in her ‘Rienzie Wijetilleke – Revisited’. (to name a few of eulogies).

Some of the following accounts of him are not known to many outsiders and may be confined only to some brothers and sisters of HNB. Although I have worked at HNB for 18 years my interactions with this great leader was unfortunately limited to four instances.

If my memory serves me right, I met him for the first time in Panadura in the late 80s as the then Vice President of the Panadura Sports Club when HNB sponsored a cricket match between the club team and a touring English team. The chat lasted less than three minutes. Then, it was when he came to the HNB City Office in 1991 to give his blessings for the very first shipment of foreign currency notes to Singapore. The third was when he visited the Treasury Department of HNB, which was shifted to a new building opposite the City Office in Colombo Fort in the late 90s. My most important and vital meeting was in late September 2001.

When I was selected to Head the Representative Office of HNB in Karachi, Pakistan, in October 2001, I had to meet him. So, on the day of the appointment when I went to his room, I experienced the noble qualities and true humanity of this great gentleman. After a lengthy discussion about my new posting (mainly fatherly advice) and also about my family, the following kind words of his still echo in my mind and will not be forgotten in years to come.

“Lalith, give my direct telephone number to your wife to contact me for any emergency and she and your children can be assured of my protection and care in any emergency”.

Further, he fulfilled a special request made by me before I left. If love, compassion and care define a mother, then he fits in there.

He created and promoted the ‘Hatna Family’ concept, to go deep into the hearts of all at HNB. He never neglected the children and the close relatives of the ex-employees of HNB. However, in this world there are so many ungrateful people who do not have an iota of gratitude even after receiving ‘impossible’ opportunities. Leaving that sad part aside, I just wonder how many fathers, mothers and children are smiling today because of the stability of their lives, well assisted by our Sir, RTW. Surely most of them must be transmitting their telepathic best wishes and gratitude to him.

Our quarterly in-house journal, ‘Hatnamag’ was his brainchild. When I was in Karachi I used to circulate it among the prominent bankers there and some expressed their eagerness to have their own ones. However, the most prominent and enthusiastic reader was our then High Commissioner to Pakistan, (stationed in Islamabad) the ever smiling and amiable, General Srilal Weerasooriya.

The annual dance of HNB, the ‘Hatna Nite’ which was not held for many years was rejuvenated by Sir, RTW, I was told.

Media, especially the television channels, had a special place reserved for HNB. Decades ago when ‘Rupavahini’ broadcast the programmes, ‘Vanija Lovin’ (from the commercial world) and ‘Business Matters’ the channel authorities selected HNB as the provider of the articles. As requested by SDGMT, Mr. GK, I wrote those Sinhala and English articles for HNB. Before the introduction of the Euro in January 1999, ‘Rupavahini’ gave the opportunity for HNB to educate the wide range of viewers about facts related to the same. Then ART TV had a programme called ‘Business Matters’ every fortnight. Those were recorded at the Treasury Department of our bank. In all occasions I was lucky enough to be the interviewee thanks to my boss, Mr. GK, SDGMT. All those opportunities were not conjured by a magic wand but because of the rapport that HNB amassed throughout the years, thanks to the unparalleled leadership of our Sir, RTW,

It is a well-accepted fact that the sport (corruption free) is a real tool that can bring all people together. RTW had a special concern for the sportsmen and women. HNB became an oasis for them as the bank recruited, plethora of players of national fame in cricket, rugby, basketball, netball, soccer and hockey. The lengthy sports fabric of HNB was neatly decorated by the above players who brought plenty of championship trophies in Interbank, Mercantile and National tournaments. The numbers of achievements / trophies are too vast to name one by one. Thus, in the sports arena too HNB, created an indelible reputation.

He also extended the opportunities at HNB for three star athletes who brought honour to our motherland in Asian Games — Jayamini Illeperuma, Sriyani Kulawansa and Dhammika Menike.

Since I was a playing member of the team, I am proud to mention that in 1996 HNB became the Mercantile Over-40 Cricket Champions.

The number of bank branches swelled to over 180 in 2004 from 33 branches when he took over as the MD, with ATMs scattering right round the country.

As a colossal figure in the banking industry of Sri Lanka, while being the Managing Director he built a colossal mansion for the bank – HNB Towers, inaugurated in January 2003. Despite some pessimism about the building by corporate customers, his unhesitant determination, supported by an enthusiastic team saw the giant baby born.

In 2004, our Sir, RTW was elevated to the prestigious position of Chairman of HNB. By then the number of Exchange houses in the Middle East that had commenced agency arrangements with HNB for the inward remittances for the benefit of the expatriate Sri Lankans was very high. Those arrangements extended to some affluent countries such as Australia, Canada, Switzerland, Singapore and the UK as well during his tenure as the MD, with the Inward remittance business expanding many folds.

The establishment of the departure and arrival outlets of HNB at the BIA was another feather in his cap. Gold business of HNB commenced when he was MD. The high volumes of Gold sales by those two outlets and a large number of foreign currency deposits by duty free shops at BIA, the total collections of the same became unprecedented, resulting in the repatriation (export) of foreign currency notes to Singapore and Switzerland weekly. The profits were enormous.

The ‘Gami Pubuduwa’ programme was initiated during his tenure as Managing Director, which the World Bank hailed as a role model of the world in 1995. Under his guidance HNB became first for many local and international accolades.

The enormous number of scholarships offered to the deserving employees of HNB was unparalleled. Most of the ‘lucky’ ones, including me, are in retirement, reminiscing the ‘bright’ flame that glittered throughout, making plenty of opportunities for his subordinates.

The Training Centre of HNB was expanded to greater heights by recruiting well experienced and erudite personnel. The bank conducted the first ever training programme for the school leavers in 1989. The library was revitalized to modern standards in January 1990, and both relocated at HNB Towers.

After the introduction of the free economy, many foreign banks opened their doors in Sri Lanka. With the passage of time almost all of them wanted to quit Sri Lanka. (If I’m not mistaken only the CitiBank and Deutsche Bank remain to date). However, HNB made three record number of mergers, namely with Sri Lankan branches of Emirates Bank, Banque Indosuez and Habib AG Zurich, guided by Sir, RTW. Under his guidance HNB also established two Representative offices in Chennai, India and Karachi, Pakistan.

‘Cheqleaf’ at HNB Towers is an oasis with manna for the ‘exhausted’ but ‘spirited’ loyalists after 6 pm. The Pool Table there is an ideal substitute for billiards and snooker fanatics like me. It has become a good pastime for many employees.

I purposely refrained from obtaining opinions from retired and present senior staff members (joined before 2004) of HNB about our Sir, RTW for the simple and obvious reason that this article would have become too lengthy.

Sir, RTW, as the Chairman ran the best cricket interim committee of the country in 1999. Political interference brought an abrupt end to his top quality management. That is another sad episode of cricket in our motherland.

Like King Dutugemunu had 10 giant warriors, our Sir, RTW also had such capable men around him. One special lieutenant, an amiable character like a shadow enabling his boss to reach the pinnacles of successes, was Mr. Upali De Silva. He was the best ‘midwife’ at HNB who assisted his boss to deliver at all times. His camaraderie with his boss was exemplary.

Sir, RTW retired in 2010 as the proud Chairman of HNB. Even at 80 you are still young at heart. The birthday of our former Big Boss will be on 10th November.

Your wisdom and exemplary humanity will always be etched in our memories. Along with thousands of well wishers, I wish you good health and longevity to serve the human kind for many more years to come.

‘Scent of flowers does not travel against the wind, but the fragrance of good people travels even against the wind. A good man pervades every quarter’.

 

LALITH FERNANDO

Panadura



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Opinion

Can a punishment-free child become a threat to Sri Lankan society?

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Children are the future of every nation, and the values they learn during childhood shape the society they will eventually lead. In Sri Lanka, where family traditions, respect for elders, and social responsibility have long been important cultural values, the way children are raised remains a topic of great interest. In recent years, many parents and educators have moved away from traditional forms of punishment and embraced more child-friendly approaches to discipline. While protecting children from physical and emotional harm is essential, an important question arises: can a child who grows up without any form of punishment or consequences become a threat to Sri Lankan society?

To answer this question, it is necessary to understand the difference between punishment and discipline. Punishment is often associated with penalties imposed for wrongdoing, while discipline refers to teaching children self-control, responsibility, and respect for rules. Modern child psychology generally discourages harsh physical punishment because it can cause fear, anxiety, and resentment. However, completely removing consequences for inappropriate behavior may create a different set of problems.

Sri Lankan society has traditionally emphasized discipline within the family. Parents, grandparents, and teachers have often played active roles in guiding children’s behavior. Respect for elders, obedience, and good manners have been considered important virtues. While some traditional disciplinary methods may no longer be acceptable, the underlying principle of teaching accountability remains relevant.

A child who never faces consequences for wrongdoing may struggle to understand the boundaries that exist in society. For example, if a child is allowed to insult others, damage property, or ignore rules without correction, they may develop the belief that their actions have no consequences. Such attitudes can become problematic when the child enters school, the workplace, or the wider community.

Sri Lankan schools already face challenges related to student discipline. Teachers often report difficulties in managing classrooms where some students refuse to follow instructions or respect school regulations. When children are not taught accountability at home, educational institutions may find it harder to maintain a productive learning environment. This can affect not only the individual student but also classmates whose education is disrupted.

Another concern is the development of entitlement. A child who is never told “no” may come to believe that personal desires should always be fulfilled. In a society where cooperation and mutual respect are essential, such attitudes can lead to conflicts with peers, teachers, employers, and even family members. Sri Lanka’s social fabric depends heavily on community relationships, and individuals who fail to respect others can weaken these bonds.

The influence of social media and modern technology has added another dimension to this issue. Today’s children have access to information and entertainment on an unprecedented scale. Without proper guidance and consequences, some may misuse technology, engage in cyberbullying, spread misinformation, or develop unhealthy habits. Parents who avoid setting limits may unintentionally expose children to risks that affect both personal development and social well-being.

The workplace offers another example of why accountability is important. Sri Lanka’s economic development depends on a workforce that is disciplined, responsible, and capable of working with others. Employers value punctuality, respect, and professionalism. Individuals who grow up without learning responsibility may find it difficult to meet these expectations, affecting both their personal success and the productivity of organizations.

However, it is equally important not to interpret this argument as support for harsh punishment. Research has shown that excessive physical or emotional punishment can have serious negative effects on children. Fear-based parenting may produce obedience in the short term but can damage confidence, trust, and mental health in the long term. Therefore, the solution is not stricter punishment but more effective discipline.

Positive discipline provides a balanced alternative. It involves setting clear rules, explaining expectations, and applying fair consequences when those rules are broken. For instance, if a child neglects schoolwork, they may lose certain privileges until responsibilities are fulfilled. If they damage property, they can be required to help repair or replace it. Such consequences teach accountability while preserving the child’s dignity.

Sri Lankan parents, teachers, and community leaders all have a role to play in nurturing responsible citizens. Families should create environments where children feel loved and supported but also understand that actions have consequences. Schools should encourage character development alongside academic achievement. Religious and community organizations can reinforce values such as honesty, compassion, and respect for others.

A balanced approach is especially important in a rapidly changing society. As Sri Lanka continues to modernize and integrate with the global community, young people must learn not only their rights but also their responsibilities. Freedom without responsibility can lead to selfishness, while discipline without compassion can lead to fear. The challenge is to find the middle ground.

A punishment-free child can become a concern for Sri Lankan society if the absence of punishment also means the absence of discipline and accountability. Children who never learn consequences may struggle to respect rules, authority, and the rights of others. However, harsh punishment is not the answer. The most effective approach combines love, guidance, clear boundaries, and fair consequences. By raising children who understand both freedom and responsibility, Sri Lanka can build a future generation that strengthens society rather than threatens it.

Saumya Aloysius

(An essayist, children’s writer and freelance writer who holds a Master’s Degree in Sociology from the University of Kelaniya)

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Opinion

SriLankan Airbus struck by lightning

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A representational image

On Friday 12 June, 2026, a SriLankan Airlines Airbus 330 was en route from Colombo to Sydney, Australia was about 45 minutes into its flight when a loud bang was heard, accompanied by a blinding flash. In what was assumed to be a lightning strike, the airplane’s left (No. 1) engine was damaged, forcing the aircraft to return to BIA-Katunayake, where it landed safely.

Lightning travels from cloud to cloud or cloud to ground. Because the aircraft is not electrically ‘grounded’, or ‘earthed’, it must have been in the path of the thunder bolt purely by chance. There is also a phenomenon whereby the aircraft may travel through an electrically charged atmosphere (for example a cloud) where an electrical charge could build up and strike, or be emitted, as lightning. In such an instance, pilots hear electrical static in their headsets before the strike. Usually, when lightning strikes an aircraft in flight, the electrical charges remain on the outside, as on a ‘Faraday’s Cage’ apparatus, and the passengers and crew are perfectly safe.

To help the efficient and safe discharge of static electricity from the airplane’s structure, static wicks, or static dischargers, are fitted at the trailing (rearmost) edges of the wings and tail surfaces. When an airplane has landed after a lightning strike, ground engineers count the number of wicks that may have been burnt out to ensure that a minimum (recommended) number is available for a subsequent flight. Sometimes, there is minor damage, like pitting of the paintwork at the points where the charges left the aircraft.

The last instance in the USA of an airplane believed to have been lost due to a lightning strike was on December 8, 1963, when a Pan Am Boeing 707-121, en route from Baltimore, Maryland to Philadelphia, Pennsylvania, suffered a fuel tank explosion, later determined to have been the result of a lightning strike. Since then, aircraft have been rendered immune from lightning damage thanks to extensive research conducted by manufacturers using high-voltage currents.

Interestingly, modern airliners have electronic instrument displays which don’t even flicker when the aircraft is struck by lightning. By a process of connecting all the metallic parts, known as ‘bonding’, the entire fuselage effectively becomes a protective cocoon, so electrical charges caused by lightning will always reside on the outside of the aircraft.

What is unusual in the recent SriLankan Airlines incident is the extent of damage to the left engine. Did it encounter hail or ingest something?

Only a thorough, independent inquiry by aviation safety investigators will reveal the cause.

GUWAN SEEYA

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Opinion

Beyond diagnosis: A strategic design for 7% growth by 2029 (Part I)

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“Vision without execution is hallucination.” – Thomas Edison

Introduction: Stabilisation Is Not Transformation

Sri Lanka has come a long way since the economic collapse of 2022. Inflation has been brought under control. Foreign reserves have improved. Debt restructuring has advanced. Government revenue has increased significantly through taxation reforms. The exchange rate has stabilised, and confidence has gradually returned to financial markets.

These achievements deserve recognition.

However, stabilisation should not be confused with economic transformation. A patient discharged from intensive care is not necessarily healthy. Likewise, an economy that has escaped collapse has not necessarily achieved sustainable prosperity.

The central economic question facing Sri Lanka today is no longer how to avoid another crisis. Rather, it is how to achieve sustained economic growth of at least 7% per annum by 2029.

Unfortunately, much of the current policy debate remains trapped in economic diagnosis. Policymakers, economists, and commentators repeatedly identify familiar problems: (i) low productivity, (ii) weak exports, i(iii) Inadequate innovation, (iv) poor competitiveness, and (v) insufficient investment. While these diagnoses are correct, they are not new.

Sri Lanka now needs economic engineering.

The country requires a clear, measurable, and actionable National Growth Strategy for 2026-2029 that identifies (i) where growth will come from,(ii) what investments are required,(iii) which institutions will lead implementation, and (iv) how success will be measured.

The difference between diagnosis and engineering is the difference between describing a problem and solving it.

The Missing National Growth Target

One of the most striking weaknesses in Sri Lanka’s economic discourse is the absence of a publicly articulated growth target supported by a detailed implementation framework.

Successful economies establish measurable objectives.

Sri Lanka should adopt the following growth trajectory:

2026 – 4%

2027 – 5%

2028 – 6%

2029 – 7%

Such targets would provide direction to investors, public institutions, universities, exporters, and development partners. Without a destination, even the best policies risk becoming disconnected initiatives.

Today, many policy interventions appear fragmented—valuable in isolation but lacking integration into a broader national growth framework.

Growth Will Not Come From Consumption

For decades Sri Lanka relied heavily on consumption, imports, remittances, tourism, and external borrowing.

That model has reached its limits.

No country has achieved sustained prosperity through consumption-led growth alone.

The countries that transformed themselves—Singapore, South Korea, Ireland, Vietnam, and China—generated growth through productive investment, exports, industrialisation, and integration into global markets.

Sri Lanka’s future growth must therefore be driven by investment and exports rather than domestic consumption.

The challenge is not increasing spending but increasing productive capacity.

Export-Led Growth: The First Pillar of Transformation

Every successful Asian growth story has one characteristic in common: exports.

Exports generate foreign exchange, create jobs, attract investment, encourage innovation, and improve productivity.

Sri Lanka should establish an ambitious target of doubling export earnings within the next decade.

This requires moving beyond traditional exports and expanding into:

High-value agriculture

Food processing

Information technology services

Logistics services

Advanced manufacturing

Professional services

Export growth must become a national mission comparable to post-war reconstruction efforts seen elsewhere in Asia.

Without a major expansion of exports, sustained 7% growth will remain elusive.

Manufacturing: The Forgotten Growth Engine

Manufacturing remains the single most important source of rapid economic transformation worldwide. Vietnam provides perhaps the best recent example.

Through (i) industrial zones, (ii) trade agreements, (iii) infrastructure development, and (iv) targeted investment attraction, Vietnam became deeply integrated into Asian production networks.

Sri Lanka possesses strategic advantages:

A prime Indian Ocean location

Strong port infrastructure

Educated labour force

Proximity to India

The country should establish specialised manufacturing clusters focusing on:

Electronics assembly

Medical devices

Processed food products

Boat building

Rubber-based products

Engineering components

Rather than attempting to compete with every country, Sri Lanka should specialise in selected niches where competitive advantages can be developed.

RCEP: The Strategic Door to Asia

Sri Lanka’s future lies increasingly in Asia.

The Regional Comprehensive Economic Partnership (RCEP) represents the largest trading bloc in the world and includes many of the fastest-growing economies.

Membership or closer integration with RCEP supply chains could provide Sri Lankan exporters with access to markets, investment, technology, and production networks that are currently beyond reach.

Unfortunately, discussion on RCEP remains limited compared with its strategic significance.

A dedicated national roadmap for RCEP engagement should become a top economic priority.

The question is not whether Sri Lanka can afford to integrate more deeply into Asia.

The question is whether Sri Lanka can afford not to.

Knowledge Economy: Turning Universities Into Growth Institutions

Sri Lanka’s universities produce thousands of graduates annually, yet their contribution to commercial innovation remains limited.

Globally, universities have become engines of economic development.

Research institutions should not merely produce graduates; they should produce patents, technologies, startups, and commercial solutions.

A national innovation framework should:

Link universities with industry

Encourage commercialisation of research

Support technology transfer

Expand startup financing

Reward innovation and entrepreneurship

Knowledge must become an economic asset rather than an academic exercise.

Dairy, Agriculture, And Import Substitution

Export growth alone is insufficient.

Sri Lanka must also reduce unnecessary import dependence.

The dairy sector offers a compelling example.

For decades, billions of rupees have left the country through dairy imports despite favourable climatic conditions and substantial agricultural potential.

A comprehensive dairy development strategy should focus on:

Improved genetics

Feed production

Commercial farming

Processing investment

Farmer productivity

The objective should be import substitution combined with rural income growth.

The same principle can be applied selectively to other sectors where domestic production is economically viable.

Creating A National Investment Targeting Agency

Sri Lanka does not need another bureaucracy.

It needs a professional institution dedicated exclusively to investment targeting.

Instead of passively waiting for investors, this agency would actively identify and attract strategic investments aligned with national priorities.

Its mandate would include:

Identifying priority sectors

Marketing opportunities globally

Coordinating approvals

Monitoring outcomes

Facilitating technology transfer

Singapore’s Economic Development Board and Ireland’s Industrial Development Agency demonstrate how targeted investment institutions can transform national economies.

Sri Lanka requires a similar mechanism adapted to local realities.

From Economic Diagnosis To Economic Engineering

The next stage of Sri Lanka’s recovery requires a fundamental shift in thinking.

The policy debate must move beyond identifying problems. The country already knows its problems.The challenge is implementation.Every policy proposal should be evaluated against a simple question:

Will this contribute to achieving 7% growth by 2029?

If the answer is no, resources should be redirected.

Economic engineering requires focus, prioritisation, accountability, and measurable outcomes. The era of fragmented initiatives must give way to a coherent national growth strategy.

Summary

Sri Lanka has achieved significant macroeconomic stabilisation, but stabilisation is only the first step toward sustainable prosperity.

To move from recovery to transformation, Sri Lanka should adopt a National Growth Strategy for 2026-2029 built around five pillars:

Export-led growth

Investment-led growth

Manufacturing expansion

Knowledge-economy development

Regional integration through RCEP and Asian supply chains

Supporting sectors such as dairy, tourism, logistics, and information technology should be strategically developed within this framework.

Most importantly, investment must be targeted rather than scattered, supported by specialised institutions and measurable performance indicators.

Conclusion

History demonstrates that no nation has become prosperous by accident. Economic success is rarely the product of isolated policies or short-term political initiatives. It is the outcome of a deliberate strategy pursued consistently over many years.

Sri Lanka stands at a crossroads.

One path leads to modest growth, periodic crises, recurring debt challenges, and continued vulnerability. The other leads to transformation through investment, exports, innovation, manufacturing, and regional integration.

The choice is ultimately strategic.

The time has come for Sri Lanka to move from economic diagnosis to economic engineering.

The future will not be determined by how successfully the country stabilised after the crisis. It will be determined by how effectively it builds the foundations for sustained growth thereafter. If Sri Lanka can articulate and execute a coherent investment-led growth strategy today, achieving 7% growth by 2029 need not be an aspiration.

It can become a national objective—and a national achievement, economic Engineering

The writer, among many, served as the Special Advisor to the Office of the President of Namibia from 2006 to 2012 and was a Senior Consultant with the UNDP for 20 years. He was a Senior Economist with the Central Bank of Sri Lanka (1972-1993). He can be reached via asoka.seneviratne@gmail.com

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